8 Home Renovations That Pay Off

Home renovations that pay offWhen it comes to preparing your home for sale, some home sellers make it their objective to get the most return on their homes. But if you managed to do some renovations on your home before you even planned on selling it, here are home renovations that pay off the most, according to a report by Remodeling Magazine.

Home renovations that pay off #1

Slight bathroom remodel

Average return: 102%

If you have a dated tub, floor, toilet, sink and/or vanity, replacing them will run you about $10,000 but you will manage to recoup all your money and then some when you decide to sell.

If you aren’t able to drag your old tub out of the bathroom because it’s just too big, then have it reglazed, which will run you no more than $400. Re-caulk the tub and apply a fresh coat of paint to the walls for added newness.

Home renovations that pay off #2

Get your landscaping on

Average return: 100%

If you aren’t sure what to do with your landscape, head over to your local garden centre and let them know what you’d like to do and what your desired upkeep is. These centres offer free services and can help you find what’s right for your landscape.

So long as the green looks green and well-maintained, you add a splash of color and you add a nice focal point like a walkway or a fountain, homebuyers will enjoy the curb appeal.

Home renovations that pay off the mostHome renovations that pay off #3

Small kitchen remodel

Average return: 98%

A small kitchen remodel can result in a complete recoup if you already have a great kitchen that needs some small adjustments that will result in an appeal to the masses.

Recessed lighting, refaced cabinets, sinks and fixtures, and laminate countertops could be enough to result in more potential buyers and an almost complete return on investment. If your home is worth more than $500,000, however, you may need to consider a more gourmet route.

Home renovations that pay off #4

Improve the exterior

Average return: 95%

Replacing vinyl siding, painting the front of your home, removing old awning from windows and doors, replacing your front door, and adding columns to your front porch area will get you almost every dime you spend back.

Remember that the front of your home and your landscaping are the first impression that you make on your home, so you want to make sure you get it right.

Home renovations that pay off #5

Major bathroom overhaul

Average return: 93%

So what does a major bathroom overhaul entail? Expanding the size of the bathroom, replacing the tub, toilet and sinks and perhaps shuffling them around, adding a closet, changing the lighting, redoing the floors, building a walk-in shower and adding a new exhaust fan might be a start.

When doing the flooring, make sure to keep some extras, as the new homeowner might need to make repairs in the future.

Home renovations that pay off #6

Major kitchen overhaul

Average return: 91%

If you plan on doing a major kitchen remodel, you need to keep in mind that you only stand to recoup about 90% of what you put in. So if you want to replace the cabinets and add an island, laminate countertops, stainless sink, a wall over, new flooring and appliances, then your home’s value will rise, but you won’t get every penny you put in back.

If you plan on selling in the near future, it would serve you best to stick with neutral colors; if you are planning on doing this so that you can have the kitchen of your dreams, then do what you love.

Home renovations that pay off #7

Basement renovation

Average return: 90%

Creating an entertainment area with a wet bar, a bathroom, lighting and laminate flooring will garner you 90% return on your investment.

Make sure you take care of any potential plumbing problems before you begin your renovation and add an under-counter fridge to the wet bar for an added touch.

Home renovations that pay off #8

Replace the windows

Average return: 90%

Replacing old windows in the home is not only great for esthetic purposes and resale value, today’s windows do a better job of sealing in the cool air and heat, depending on the season.

Although the recoup rate hovers around 90%, it’s a fact that good windows, that is, using argon gas to prevent heat and cold transfer within the window, you will be saving tons of money on your future electricity bills.

If you’re ready to save your home, find out how you can get full support and sell the ComFree way, visit ComFree.com today.

3 comments

  1. Wow who knew that replacing windows would have such a great return on investment!

  2. Johnny says:

    Fantastic article! I renovated my place for myself, but when it came time to sell, it was the very renovations I did that helped me sell my home quickly.

  3. Terry F says:

    This is a great post. Sellers sometimes think they can tack an extra $20,000 onto the cost of their renovation, but that is not true.

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